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Funds (13F)

Alpha Wave Global, LP

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+3.8%
S&P 500 +14.1%
Last 12 months
−19.4%
S&P 500 +12.1%
Sharpe ratio
0.20
S&P 500 0.78
Biggest drop
−55.0%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$16.3k
Alpha Wave Global, LPS&P 500 $10,000 in Alpha Wave Global, LP from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Alpha Wave Global, LP's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Alpha Wave Global, LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+3.8%+14.1%
Total return+63%+470%
Last 12 months−19.4%+12.1%
Last 3 months+2.0%—
Last month−13.4%—
This year so far−21.7%—
Volatility a year27.6%16.0%
Sharpe ratio0.200.78
Biggest drop−55.0%−31.8%
Beta to the S&P 5001.191.00
Alpha a year (t-statistic)−9.3% (−1.68)—
Share of weeks up56%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
SPCX85.6%——
QXO6.8%——
CBRS1.8%——
ANRO1.6%——
WWD0.7%——
BA0.6%——
RDNT0.5%——
VTR0.4%——
CDP0.3%——
LENZ0.3%——
REZI0.3%——
AMRZ0.3%——
LXP0.2%——
NSP0.1%——
CBL0.1%——
JAN0.1%——
PRCH0.1%——
HON0.1%——
HONA0.1%——
AMLX0.0%——
DNN0.0%——
PAYO0.0%——
NXE0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+3.8%+14.1%0.200.78−55.0%1.19−9.3% (−1.68)
2018 onwards5 Jan 2018 to 2 Nov 2026−0.6%+13.9%0.050.66−55.0%1.15−12.2% (−1.58)
Last three years3 Nov 2023 to 2 Nov 2026+4.3%+21.8%0.181.16−33.4%1.38−15.5% (−0.83)
Last year7 Nov 2025 to 2 Nov 2026−14.7%+14.2%−0.240.84−33.4%1.69−27.1% (−0.69)
DateCompanyAction
14 Aug 2026SPCXBought
14 Aug 2026NSPBought
14 Aug 2026LXPBought
14 Aug 2026JANBought
14 Aug 2026HONABought
14 Aug 2026HONBought
14 Aug 2026CBRSBought
15 May 2026CDPBought
15 May 2026AMRZBought
20 Feb 2026WAYBought
20 Feb 2026VTRBought
20 Feb 2026RDWBought
14 Nov 2025REZIBought
14 Nov 2025NGVTBought
14 Nov 2025KLARBought
14 Nov 2025CERTBought
15 Aug 2025TRSBought
15 Aug 2025QXOBought
15 Aug 2025PRMBought
15 Aug 2025OSWBought
15 Aug 2025HIIBought
15 Aug 2025FLNCBought
15 Aug 2025BURBought
15 Aug 2025BABought
15 Aug 2025AVAVBought

Dated at the rebalance that made the change.

DateCompanyAction
14 Aug 2026RDWSold
14 Aug 2026NGVTSold
14 Aug 2026HIISold
15 May 2026WAYSold
15 May 2026KLARSold
15 May 2026ERIISold
20 Feb 2026TRSSold
20 Feb 2026FLOSold
20 Feb 2026FLNCSold
20 Feb 2026CERTSold
20 Feb 2026AVAVSold
14 Nov 2025PRMSold
14 Nov 2025OSWSold
14 Nov 2025CTEVSold
14 Nov 2025CRSSold
14 Nov 2025CBZSold
14 Nov 2025BURSold
14 Nov 2025AIVSold
15 Aug 2025LNTHSold
15 Aug 2025LFCRSold
16 May 2025ECGSold
16 May 2025BESold
14 Feb 2025TXNMSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest